KSi Daily Report: Friday, 6 December 2013

Both Kina Securities stock indices gained territories amid a quiet session for the last trading day of the week. The main index, the KSi added 1.04 points, or 0.03% to 3,872.79, while the home index or the KSHi collected 18.07 points, or 0.22%, to finish at 8,215.70.

Friday’s trading session recorded a low volume of 5,866 units valued at K1,672.98.

InterOil (IOC) said today Total SA (FP), Europe’s third-biggest oil company, agreed to buy a stake in the company’s assets including 61.30% license of the Elk and Antelope gas fields in Papua New Guinea in a deal valued at as much as $3.6 billion as part of a plan to build a liquefied natural gas project.

U.S. stocks dropped in overnight session, slapping the Dow Jones Industrial Average with their fifth straight down day, as better-than-expected readings on employment and economic growth boosted bets that a stimulus reduction could come this month. The DJIA weakened by 68.26 points (-0.43%) at 15,821.51 points. Meanwhile, stability in the yen allowed Japanese stocks to move higher at the end of a bad week for the Nikkei Average, raising 130.61 points (+0.86%)on 15,308.10 points. In Australia, the share market has closed lower, with the year’s biggest listing, Nine Entertainment, among the shares losing ground, at the close on Friday, the benchmark S&P/ASX200 index was 12.0 points, or 0.23 per cent, lower at 5,186.00 points.

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